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Short Take: Apple sees lower sales

In its quarterly filing with the Securities and Exchange Commission, Apple Computer, said it expects its net sales to be below last year's levels through at least the fourth quarter. The company, which was hit with a second quarter loss of $708 million for the period ending March 30, also expects a decrease in interest income in the third and fourth quarters because of the acquisition of Next Software, restructuring costs, and other expenses.

In its quarterly filing with the Securities and Exchange Commission, Apple Computer, said it expects its net sales to be below last year's levels through at least the fourth quarter. The company, which was hit with a second quarter loss of $708 million for the period ending March 30, also expects a decrease in interest income in the third and fourth quarters because of the acquisition of Next Software, restructuring costs, and other expenses.